Property Overview: 10 Summerfield Way, River East, Winnipeg
Section 1: Key Characteristics & Appeal
This 988 sqft home, built in 1972 on a 5,298 sqft lot, presents a straightforward opportunity in Winnipeg's River East neighborhood. Its primary appeal lies in its relative affordability and stability within its immediate surroundings. The data shows the home is consistently "around average" for its own street in terms of living space, assessed value, lot size, and age, meaning it fits neatly into the existing fabric of Summerfield Way. This can be a sign of predictable maintenance costs and neighborhood character.
However, a more nuanced perspective reveals its positioning. While average for its street, the home sits "below average" for the broader River East area in living area and lot size, which directly contributes to its assessed value being notably lower than the neighborhood average. This creates a clear value proposition: entry into a established neighborhood at a point below the area's typical price point. It would suit first-time buyers, downsizers, or practical investors seeking a lower-maintenance property without venturing into newer, more distant subdivisions. The appeal is less about standout features and more about securing a sensible, lower-risk foothold in a mature community.
Section 2: Frequently Asked Questions
1. Is the assessed value of $323k a good indicator of the likely selling price?
The assessed value is for municipal tax purposes and is not a direct market appraisal. However, it being near the street average suggests it's not an outlier. The last known sale (2021) was in the $250k-$300k range; the current market value would depend on updates, condition, and market trends since then.
2. How does the smaller living area compare to nearby homes?
At 988 sqft, the home is very typical for Summerfield Way itself but is cozier than many homes in the wider River East area, where averages are closer to 1,400 sqft. This is a key factor in its more accessible price point.
3. What does the lot size mean for potential expansion or outdoor space?
The lot is larger than the average on its street, offering a slight advantage for gardening, parking, or storage. However, it is smaller than the typical River East lot, so major additions may be constrained compared to other properties in the neighborhood.
4. Can I find out the exact historical sale prices?
The site provides sold price ranges for context. Due to industry rules, exact MLS sale figures are not published here. You can request the precise transaction history via email from the site provider for verified details.
5. The home is described as "below average" for the neighborhood in several categories. Is this a concern?
This statistical classification primarily highlights why the home's value is below the neighborhood average. It's not inherently a red flag but a defining characteristic. It indicates you are purchasing a more compact property on a smaller lot than some in River East, which is reflected in the price. It's a trade-off between space and location affordability.